Small degree price action now points to a move higher from these levels.
On the 15-minute chart, price is leaning right against the 1000 period moving average which is good support.
Here we can assume that this is a small degree Wave 1 and Wave 2 is possibly complete.
Confirmation comes at a break of 24,133.
The stop level will remain in place if no new low is made.
If we make one more mini low just adjust the stop level upon entry.
This type of pattern is similar to the last long position where price starts of quite slowly and then goes parabolic.
You can see that previous long trade linked below.
Trade parameters:
ENTRY: 24,133
STOP: 23,905
TARGET 1: 33,000
TARGET 2: 36,500
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
On the 15-minute chart, price is leaning right against the 1000 period moving average which is good support.
Here we can assume that this is a small degree Wave 1 and Wave 2 is possibly complete.
Confirmation comes at a break of 24,133.
The stop level will remain in place if no new low is made.
If we make one more mini low just adjust the stop level upon entry.
This type of pattern is similar to the last long position where price starts of quite slowly and then goes parabolic.
You can see that previous long trade linked below.
Trade parameters:
ENTRY: 24,133
STOP: 23,905
TARGET 1: 33,000
TARGET 2: 36,500
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
